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In the docks in Aberdeen, oil workers put a brave face on hundreds of job cuts linked to sinking crude prices while union leaders warn that the worst is yet to come. "It has happened before and it will happen again. There will probably be job losses but that's the way the industry works," said Tony Maguire, a rig worker.

Greece's anti-austerity leftist party Syriza stood on the cusp of an outright victory in Sunday's snap election, commanding a 10 point lead over Prime Minister Antonis Samaras' conservatives, an updated exit poll showed.
Pro-Moscow rebels, backed by what Nato says is the open participation of Russian troops, pressed on with their offensive on Sunday after restarting the war in eastern Ukraine with the first all-out assault since a truce five months ago. US President Barack Obama said Washington was considering all options short of military action to isolate Russia. The European Union called an emergency meeting of foreign ministers of its 28 member states.
The rupee fell against the dollar, it, however, posted fresh gain versus the euro as the single European currency set a fresh 11-year low versus the greenback in the global market. In the interbank market, the rupee dropped by 19 paisa in terms of the dollar for buying and selling at Rs 101.00 and Rs 101.05 respectively.
The President has rejected the Federal Board of Revenue's (FBR) representation against an order passed by Federal Tax Ombudsman (FTO) on the issue of theft of taxpayers' confidential data, which will now be investigated by Federal Investigation Agency (FIA), involving tax/PRAL officers, who illegally accessed confidential data of taxpayers' assessment record.
Business community of the Punjab has welcomed 100 basis points cut in the policy interest rate by the State Bank of Pakistan with reservations describing it below expectations. Talking to Business Recorder, here on Sunday Chairman All Pakistan Business Forum (APBF) Nabeel Hashmi said as the government has saved nearly $ 5 billion on the import of oil, it should have reduced the interest rate by at least 200 basic points.
Indian Border Security Force (BSF) on Sunday once again resorted to unprovoked fire at the Line of Control (LoC) in Charwa Sector while Chenab Rangers retaliated befittingly. Sources confirmed that heavy weapons were also employed from both the sides in addition to firing mortar shells whereas no life loss was reported.


Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln